By Veronica Dudei Maia Khongwir BENGALURU (Reuters) -Malaysia’s central bank is expected to hold its key interest rate at 2.75% on Thursday and keep it there until at least 2027, according to economists polled by Reuters as soft inflation and resilient economic growth ease pressure for further cuts. Inflation edged up to just 1.2% in …
By Leika Kihara TOKYO (Reuters) -Japan Post Bank said it would launch a digital yen by the end of fiscal 2026 to make it more convenient for its depositors to make digital financial transactions. The move by the postal giant, which holds roughly 190 trillion yen ($1.29 trillion) in deposits, highlights a growing wave of …
HELSINKI (Reuters) -Chinese battery maker Contemporary Amperex Technology (CATL) is selling its 20.6% stake in subcontract Finnish car maker Valmet Automotive to the Finnish state and another shareholder, Finland’s government said on Monday, amid low electric car sales in Europe. The Finnish state, which already owns 44.96% of Valmet Automotive through its investment company Finnish …
China’s CATL sells stake in Finnish subcontract car manufacturer Read More »
SHANGHAI (Reuters) -BYD’s production slid for a second straight month in August, marking its first consecutive monthly contraction since 2020 in a further sign that the Chinese EV giant is putting the brakes on its massive years-long expansion. The world’s biggest EV producer made 353,090 electric vehicles and plug-in hybrids (PHEV) globally last month, down …
BYD records consecutive monthly production drops for first time since 2020 Read More »
By Donny Kwok HONG KONG (Reuters) -Shares in electric vehicle maker BYD slid on Monday after it reported quarterly profit fell for the first time in more than three years, with analysts saying its competitive advantage was being eroded by Chinese government efforts to stop a price war. Net profit at the world’s biggest EV …
BYD’s shares slide after steep fall in quarterly profit Read More »
BEIJING (Reuters) -Member states of the Shanghai Cooperation Organisation (SCO) oppose trade measures that violate WTO rules and principles, according to a joint statement on trade reached at an SCO summit released by China’s official Xinhua news agency on Monday. The countries are concerned about measures that disrupt the stability of global supply chain, and …
SCO member states say they oppose trade measures that break WTO rules Read More »
(This Aug 29 story has been corrected to clarify that Seoul is asking equity accounts for a fraction of the fund, not loans and equity, in paragraph 16) By Hyunjoo Jin and Joyce Lee SEOUL (Reuters) – Negotiations ranging from tariffs to defence between South Korea and the United States were bogged down, overshadowing a …
South Korean negotiators struggle to close gaps with US despite summit, tariff deal Read More »
HONG KONG (Reuters) -Hong Kong’s retail sales by value rose by 1.8% in July from a year earlier, the third consecutive month of gains, government data showed on Monday, and its government said consumer sentiment should remain steady. Sales rose to HK$29.7 billion ($3.8 billion), after a 0.7% increase in June compared with the same …
Hong Kong retail sales up 1.8% in July, sentiment steady, government says Read More »
MOSCOW (Reuters) -Russian President Vladimir Putin on Monday proposed that members of the 10-nation Shanghai Cooperation Organisation (SCO) should sell joint bonds, a step that would mark a major deepening of their economic cooperation. At a summit of the group in China, Putin also floated the idea of a joint payments system for trade settlements. …
Putin proposes Shanghai Cooperation Organisation members should issue joint bonds Read More »
By Indradip Ghosh and Leika Kihara BENGALURU/TOKYO (Reuters) – Euro zone factory activity expanded for the first time since mid-2022 as domestic demand offset the impact from U.S. tariffs while the Asian manufacturing sector saw shrinkage, private surveys showed on Monday. There were mixed signals over the Chinese economy, however, as one such survey unexpectedly …
European factories return to growth, Asia activity shrinks Read More »
